Kentucky Hemp Business & Legal News

Acknowledging hemp ‘uncertainty,’ FDIC chief says banking rules sufficient

Banks may be hesitant to serve hemp companies because of confusion about marijuana laws, the top U.S. bank insurer says. But that doesn’t mean financial institutions should require a new law guaranteeing hemp banking, said Jelena McWilliams, head of the Federal Deposit Insurance Corp. (FDIC), which insures deposits. McWilliams was asked about hemp banking during […]

Read More

Kentucky hemp company researching cultivation in space

Update: The launch scheduled for Friday morning was delayed until Saturday. A Kentucky hemp company is sending seeds into space to see what changes when the plant has less gravity. Winchester-based Atalo Holdings’ seeds will hitch a ride to the International Space Station aboard SpaceX 17, scheduled to launch Friday. Scientists will be looking at […]

Read More

Landing tax incentives, grants for your hemp business

Savvy hemp entrepreneurs can snag free government dollars that are virtually out of reach for marijuana businesses. And now that the 2018 Farm Bill has become law, an even bigger checkbook awaits in the form of Uncle Sam. “The big money is the USDA,” said Jonathan Miller, a lawyer for the U.S. Hemp Roundtable, a […]

Read More

Kentucky, Montana senators get impatient with outdated hemp rules

U.S. senators from two big hemp states are getting fed up with waiting for hemp rules on issues such as shipping hemp across states lines to get fixed, so they’re pushing federal regulators to move faster. During a forum in Kentucky on Monday, Senate Majority Leader Mitch McConnell said a new hemp law may be […]

Read More

Hemp boom: States report dramatic licensing increases for 2019

Hemp production is about to shift into overdrive in states where growers have been licensed to get started with the 2019 planting season. There is a dramatic increase in interest among new farmers looking to capitalize on hemp in states that have been growing the crop under pilot programs. Here’s an early look at 2019 […]

Read More

Sales of hemp products in Kentucky surged in 2018

Kentucky’s resurgent hemp sector flexed more economic clout in 2018, with processors reporting sharply higher sales and farmers reaping more than twice as much income from their crop. The state’s hemp processors reported $57.75 million in gross product sales last year, compared with $16.7 million in 2017, Kentucky Agriculture Commissioner Ryan Quarles said Monday. Processors […]

Read More

States get busy on hemp as USDA delays national hemp rules until 2020

Energized by the 2018 Farm Bill, which removed hemp from the Controlled Substances Act and places federal regulatory authority with the U.S. Department of Agriculture (USDA), states have been readying their hemp cultivation regulatory plans for approval. But those next steps were put on hold on this week when the USDA confirmed it will not […]

Read More

Chart: Fast-rising CBD still trying to make inroads with mainstream retailers

CBD’s meteoric rise in popularity has hemp growers finding all kinds of market opportunities that don’t exist for THC products, including yoga studios, pet boutiques, gyms and coffee shops – all foreign territory for marijuana-derived products. One Kentucky hemp producer even has CBD products being sold in tractor supply stores; a North Carolina CBD company has […]

Read More

Farm Bill boost: Kentucky hemp acreage more than doubles for 2019

Kentucky’s hemp acreage could more than double in 2019, with state agriculture officials attributing increased registrations to the new Farm Bill. The state says it has licensed more than 42,000 acres for 2019 hemp production, up 163% from 2018, when Kentucky licensed 16,000 acres. Only 6,700 acres were planted for hemp last year, the state […]

Read More

Kentucky submits hemp proposal to USDA for approval under 2018 Farm Bill

Kentucky is first in line to request federal approval of its hemp regulations. State Agriculture Commissioner Ryan Quarles submitted Kentucky’s rules Friday, a day after President Donald Trump signed the 2018 Farm Bill. “Hemp growers, processors and manufacturers deserve swift action so they can proceed with confidence,” Quarles told Bowling Green TV station WBKO. The Farm […]

Read More

GenCanna’s 4th Kentucky hemp facility gets boost from tax incentives

Kentucky hemp grower and CBD manufacturer GenCanna Global is building a fourth factory in Kentucky, a $40 million facility the company received hefty public support for. GenCanna received “several million dollars” in state and local tax incentives to build the factory in Mayfield, in western Kentucky, President Steve Bevan told Hemp Industry Daily. The plant will […]

Read More